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Brokerage
Posted: November 21, 2008
VanIseghem of NorthMarq arranges $800,000 mortgage
Nancy VanIseghem, VP of NorthMarq Capital, Inc.'s upstate New York regional office, arranged first mortgage financing in the amount of $800,000 for the McKinley Plaza, an 8,000 s/f retail property. Financing was based on a 20-year term (10 plus 10) and a 25-year amortization schedule and was arranged for the borrower by NorthMarq through its correspondent relationship with StanCorp Mortgage Investors LLC.
VanIseghem said, "StanCorp provided competitive pricing on this piece of unanchored retail business. Their 20-year loan term allows the borrower the flexibility to repay after 10 years or to reset the interest rate for an additional ten years without additional fees or costs."
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